Wednesday, July 6, 2022
CIMB Bank Bhd and CIMB Islamic Bank Bhd are collaborating with the Northern Corridor Implementation Authority (NCIA) to support the revitalisation of SMEs during the pandemic by providing interest/profit rebates. Under the NCIA – CIMB Entrepreneur Scheme (NCES), eligible SMEs will be entitled to a rebate of 50 percent on...
FintechOS, a technology partner providing high-productivity fintech infrastructure solutions for companies offering financial services, announced the launch of its accelerators for SME mobile lending and onboarding. The accelerators allow institutions to quickly and efficiently improve the SME customer onboarding and loan origination journey, reducing the time for an SME...
Alliance Bank Malaysia Bhd (Alliance Bank) is optimistic of providing an additional RM200 million in digital loans this year to help SMEs overcome the pandemic challenges and grow their business. Eligible SMEs can obtain up to RM500,000 collateral-free financing via a simple online process that only requires the submission of...
Banks in Hong Kong are optimistic on their financial performance in 2022 with higher interest rates likely to improve margins, global business consultancy KPMG said in its latest report. Non-interest revenue should also increase as initiatives such as the Cross-Boundary Wealth Management Connect scheme offer new growth opportunities. Paul...
Nearly three in five Malaysian SMEs could forego traditional banks in favour of new or alternative borrowing products in 2022, according to California-headquartered data analytics firm Fair, Isaac and Company (FICO). The firm said in a statement on 26 April that there are signs that traditional banks in Malaysia are...
The digital bank aspirant sets sights on becoming fintech champion for businesses and consumers in Southeast Asia through regional expansion plan   Following an exceptional year of growth in revenues and product innovation, Boost, the fintech arm of Axiata, is now setting its sights expanding its suite of services and deepening...
Photo: UOB Bank
UOB Malaysia recorded a 12.2 percent increase in net profit to RM1.14 billion in 2021 on higher operating income and lower total allowance for expected credit losses. The total operating income grew 4.3 percent to RM3.35 billion, on the back of stronger net interest income and higher net income...
Al Rajhi Bank Malaysia (ARBM) has announced the appointment of Ikram Khaliq as the head of digital bank, ARBM and launched the new digital bank division office at Menara Hap Seng 3, Kuala Lumpur. In December 2021, the Islamic bank announced that it would be launching a digital bank in...
An unprecedented phishing attack targetting clients of major banks has been discovered in Vietnam. The campaign impersonates 27 popular financial institutions and remains active at the time of writing. The cybercriminals seek to reap highly detailed personal information from the clients of those institutions to the extent of robbing their...
Whether we like or not, the pandemic has changed how we live and work, including how we make payments.  With movement restriction measures and the desire to minimise contact with cash, consumers are adopting new payment habits and favouring attitudes towards digital payments. One may wonder what this means...
S&P Global Ratings (S&P) said Malaysian Islamic banks may take a bigger hit from Covid-19 because of their retail-focused business profile and inflexibility to adjust interest rates for relief loans. The credit rating agency said in a report that the recovery from Covid-19 among the Islamic banks in Malaysia has...
Bursa Malaysia Bhd and CIMB Group Holdings Bhd are collaborating to accelerate the adoption of environmental, social and governance (ESG) practices among Malaysian public listed companies (PLCs) through the #financing4ESG initiative. Through this MoU, CIMB will become the first home-grown bank to collaborate with the exchange on #financing4ESG. CIMB will...

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